Google and Facebook now own 20% of global ad revenue

The internet giants are attracting major advertising spend

Google and Facebook accounted for one-fifth of global advertising expenditure across all media in 2016, according to new research.

Figures compiled by data and analysis marketing company Zenith showed that the two companies earned 64% of all global ad spend growth between 2012 and 2016.

The two companies have nearly doubled the amount they owned five years ago in global advertising expenditure, which was at 11%, up 9% since 2012.

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Zenith found that Google, under its parent company Alphabet, is the largest media owner in the world, as it attracted $79.4 billion in ad revenue in 2016. That is three times more than the second largest, Facebook, which attracted $26.9 billion.

In third place was Comcast, which is the largest traditional media owner, which raked in $12.9 billion in advertising revenue.

Web advertising has overtaken television to become the world's largest advertising medium this year. In Zenith's top 30, there are five other pure-internet media owners - Baidu, Microsoft, Yahoo, Verizon and Twitter. The seven digital platforms generated $132.8 billion in internet ad revenue in 2016, which is 73% of all internet ad spend, and 24% of global ad spend across media.

Verizon occupies the 21st place in Zenith's rankings, but Zenith predicted it could hit sixth once it acquires Yahoo.

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Twitter is the fastest growing media owner on the list, increasing its revenues by 734% between 2012 and 2016, while Chinese social media giant Tencent is second with 697% growth over the same period, followed by Facebook in third with 528% growth.

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